Inability
to file Annual Report on Form 10-K for the year ended December 31, 2019 in a timely manner due to circumstances related to COVID-19
global pandemic.
One
World Pharma, Inc. is unable to file its 2019 Annual Report on Form 10-K by the original deadline of March 30, 2020 due to circumstances
related to the global impact of COVID-19. Our key personnel have been distracted by other priorities associated with workplace
closures, school closures, and stay at home orders. Our work efficiencies have been negatively impacted.
We
are relying on the SEC order dated March 25, 2020 (Release No. 34-88465, which supersedes the SEC’s order dated March 4,
2020 (Release No. 34-88318) to extend the due date for the filing of our Form 10-K until May 14, 2020 (45 days after the original
due date). We will work diligently to comply with such requirement, and, at this time, management believes that it may need the
entire available extension period.
Additional
risk factor disclosure
The
following is a risk factor applicable to us relating to the global COVID-19 pandemic.
We
rely on professionals all over the United States and in Colombia, which are impacted by the global pandemic, causing our resources
to be affected. Our business operations have been and may continue to be materially and adversely affected by the COVID-19 pandemic.
An
outbreak of respiratory illness caused by COVID-19 emerged in Wuhan city, Hubei province, PRC, in late 2019 and has been expanding
globally. COVID-19 is considered to be highly contagious and poses a serious public health threat.
Restrictive
measures have been imposed in major cities in the USA, including Los Angeles, New York, and Las Vegas, and throughout the world
in an effort to contain the COVID-19 outbreak. The World Health Organization (the “WHO”) is closely monitoring and
evaluating the situation. On March 11, 2020, the WHO declared the outbreak of COVID-19 a pandemic, expanding its assessment of
the threat beyond the global health emergency it had announced in January.
In
the first quarter of 2020, the COVID-19 outbreak has caused disruptions in our operations, which have resulted in delays on existing
projects. A prolonged disruption or any further unforeseen delay in our operations could continue to result in increased costs
and reduced, or delayed revenue.
If
the outbreak of COVID-19 is not effectively and timely controlled, our business operations and financial condition may be materially
and adversely affected as a result of the deteriorating market outlook for sales, the slowdown in regional and national economic
growth, weakened liquidity and financial condition of our customers and vendors or other factors that we cannot foresee. Any of
these factors and other factors beyond our control could have an adverse effect on the overall business environment, cause uncertainties,
cause our business to suffer in ways that we cannot predict and materially and adversely impact our business, financial condition
and results of operations.